12 C.F.R. § 980.5 Notice by the Finance Board.
Title 12 - Banks and Banking
(a) Issuance. Within sixty days after receipt of a notice of new business activity under §980.3, the Finance Board may issue to a Bank a notice that: (1) Disapproves the new business activity; (2) Instructs the Bank not to commence the new business pending further consideration by the Finance Board; (3) Declares an intent to examine the Bank; (4) Requests additional information including but not limited to the requests listed in §980.7; (5) Establishes conditions for the Finance Board's approval of the new business activity, including but not limited to the conditions listed in §980.7; or (6) Contains other instructions or information that the Finance Board deems appropriate under the circumstances. (b) Effect. Following receipt of a notice issued pursuant to paragraph (a) of this section, a Bank may not undertake any new business activity that is the subject of the notice until the Bank has received the Finance Board's consent pursuant to §980.6.
Title 12: Banks and Banking
PART 980—NEW BUSINESS ACTIVITIES
§ 980.5 Notice by the Finance Board.
